My Partners Want Out
Different goals, different timelines, one property.
Partnership splits stall more park sales than any physical problem. One partner wants cash, another wants to defer taxes, a third wants to keep managing.
The path forward is usually either a buyout of one side or a clean sale with proceeds divided per the operating agreement. Either way, the entity documents drive the deal.
What matters most in Arizona
- Review the LLC operating agreement for buy-sell and consent provisions first.
- Get one authorized decision-maker for negotiations, even if all partners sign.
- Partners can take different tax treatment on a sale; involve the CPA early.
Common questions
- What if only some partners want to sell?
- The usual paths are a buyout of one side or a full sale with proceeds divided per the operating agreement. The entity documents control which is available.
- What should we review first?
- The LLC operating agreement's buy-sell and consent provisions, which determine who must approve a sale and on what terms.
- Can partners be taxed differently on the same sale?
- Yes. Basis and holding structure vary by partner, so involve the CPA early to avoid surprises at closing.
"Don't have clean books? Don't let that stop you. Start with what you know."
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